Primary Components of Automotive Insurance Policy
Posted By Administrator
It is important to familiarize yourself with the basic components of an automotive insurance policy.
There are commonly four (4) primary components:
1. Bodily injury and personal property liability – this is to insure the policyholder against injuries that may be caused to a person or damage to property;
2. Personal injury protection – this pays for the lost wages and medical expenses of the policyholder and other persons injured during an accident;
3. Collision and Comprehensive – collision is against loss or damage in case of accident while comprehensive is against theft or natural disasters;
4. Uninsured motorist – this as the name implies protects the policyholder during accidents with an uninsured driver or a hit-and-run accident.
Source: BankRate.com